Oily Water Collecting Under Tailpipe

Yes it will, that is most likely your problem, this 'around town' driving. A big car with a big block is engineered for the highways and needs to have it 'legs stretched' or as we would say in the old daze "Blow The Carbon Out". Find time to take it out on the highway when traffic is very light and run it up at 1/2-3/4 throttle (80/90mph) for a half hour each way then check your exhaust and or spark plugs.

The proper racers way to check spark plug color is to run flat out for 20+ minutes, push in clutch as you back off throttle and kill the engine and coast to a stop to do a plug read.

Good Luck!

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Good suggestion, but A run on the highway will have to wait until a few more things are sorted out to my satisfaction. I can drive it around the subdivision safely, knowing I won’t plant it in someone’s yard, or worse. But higher speeds won’t be seen until the front end gets rebuilt
 
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